A franchise is a business in which the owner licenses his activities - along with his products, branding and knowledge - in exchange for a franchise fee.
A franchisor is a business that provides licenses to franchisees.
The franchise rule requires franchisors to disclose key operating information to potential franchisees.
Current royalties paid to franchisors vary by industry and can range from 4.6% to 12.5%.
Limited liability company (LC) is a general term for a type of business organization in which the assets and income of the owners are separate and distinct from the assets and income of the company; known as limited liability.
Ltd. is the standard shorthand for “limited”, a form of corporate structure available in countries including the UK, Ireland and Canada, and appears as a suffix after the company name.
A strategic alliance is an agreement between two companies that have decided to share resources for the implementation of a certain mutually beneficial project.